Tilney Completes £162 Million Acquisition

Robbie Lawther

3 August 2017

UK financial planning group has acquired the assets of Midas Investment Management, for the amount of £162 million ($214 million).

Midas, which is a Manchester-based private client investment manager, will transfer its book of clients and assets to Tilney, the firm said in a statement yesterday.

Simon Reeks, director of private client investment management, who has worked at Midas since its inception in 2001, and senior settlements executive Michael Waddington will join Tilney. They will be based in its Manchester office.

“We are delighted to conclude this agreement which will add to the really strong team Tilney has in its historic heartland of North West England, while providing continuity of relationships for Midas’s clients,” said Alan Edwards, Tilney’s head of investment management England. “Simon is a first class private client investment manager with great client relationships and I am confident he will play a key role in successfully growing our business further in the region.”